"Stiff Competition for Move-In Ready Homes That Are Priced Right"
King County home sales dip in September
Puget Sound Business Journal
Date: Wednesday, October 5, 2011, 1:39pm PDT
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The number of closed home sales fell to 1,999 in King County last month from 2,256 a month earlier.
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The number of closed home sales fell to 1,999 in King County last month from 2,256 a month earlier.
The average home sale price in King County also fell in September, dropping to $392,444 from $396,533 in August. The median home sale price (half sold for more, half sold for less) in King County fell to $310,000 from $315,000 a month earlier, according to the latest data from the Northwest Multiple Listing Service (NWMLS).
The number of pending sales in King County dropped last month to 2,718, down from 2,996 in August.
Across the 21 Western Washington counties covered by the NWMLS data, the number of closed sales fell to 4,988 last month from 5,704 in August, and the number of pending sales fell to 6,897 from 7,632.
Sales at deep discounts of distressed homes — foreclosures and short sales — are dragging down prices. But NWMLS officials say there is “stiff competition for move-in ready homes that are priced right, especially in the neighborhoods close to Seattle.”